It reports additional taxes on early distributions, excess contributions or missed required minimum distributions for IRAs and other tax‑favored accounts.
Taxpayers who owe penalties on qualified plans, IRAs, Coverdell ESAs, HSAs or Archer MSAs must file, even if they otherwise are not required to file a return.
File it with your individual tax return by the regular filing deadline; you may also file it separately if you are not required to file Form 1040.
You must report early distributions and calculate the 10 percent additional tax on the amount subject to penalty.
It is the extra tax imposed when you withdraw funds from a retirement plan or IRA before age 59½, unless an exception applies.
Use the appropriate part of Form 5329—such as Part IV for IRAs or Part VII for HSAs—to report excess contributions and compute the additional tax.
Yes. Complete Part IX and attach an explanation to request a waiver of the penalty for failing to take a required distribution.
Mail it to the same IRS address used for your individual return. Check the instructions for the correct mailing address for your state.
